Punjab Province

LAHORE | Re News Pakistan

The federal government has invited investors to participate in a proposed Special Economic Zone (SEZ) spanning approximately 6,000 acres of Pakistan Steel Mills (PSM) land in Karachi. The initiative aims to promote industrial production, logistics and export-oriented economic activities.

Federal Minister for the Board of Investment Qaiser Ahmed Sheikh highlighted the investment opportunity during a meeting with the business community at the Lahore Chamber of Commerce and Industry (LCCI). The initiative forms part of the government's efforts to utilise the extensive Pakistan Steel Mills land for productive and commercial purposes.

The proposed zone's land is considered one of the largest contiguous industrial land reserves in the Karachi region. Its links to major highways, ports and existing industrial infrastructure could make it an important location for manufacturing, warehousing, freight transportation and export-related activities.

According to the minister, developing the land with the necessary infrastructure could create new opportunities in investment, industrial production, logistics and exports. The project could also pave the way for increased investment in Karachi's industrial real estate market and encourage industrial activity in the eastern parts of the city.

However, the government's invitation to investors should not be interpreted as the formal launch of industrial plot bookings or allotments. No details have yet been announced regarding plot sizes, the allotment schedule, lease rates or payment plans for prospective investors.

The next stages of the project are expected to include finalising the development framework, identifying infrastructure requirements, determining investment incentives and establishing the mechanism for offering industrial land to investors. Clarity on these arrangements will be essential for prospective investors to assess the project's commercial viability.

During the meeting, Qaiser Ahmed Sheikh stressed the importance of a business-friendly environment, clear regulations and consistency in government decisions to encourage investment.

He said government departments should consult chambers of commerce and representatives of the industrial sector before making decisions concerning business regulations and industrial standards.

The minister also emphasised the need for an effective one-window facilitation system to simplify approval procedures and protect investors from unnecessary administrative delays.

The success of the proposed economic zone will depend on effective planning, the provision of essential infrastructure and a transparent investment policy. If these arrangements are implemented effectively, the project could play a significant role in promoting industrial expansion, logistics and exports in Karachi.

Lahore | Riaz Hussain  ReNews Pakistan

Al-Ghani Garden Lahore has introduced a 42 month payment plan for residential plots in “Olive — The Green Living” in Phase 7. The plan covers 3-, 5- and 10-marla plots, as well as one kanal plots. The listed prices cover land costs only, with development charges payable separately.

Wajahat Ali Khan, Head of RHC and Sales, outlined the payment schedule in an interview with ReNews Pakistan.

A 3-marla plot carries a total land price of Rs 1.125 million. Buyers are required to pay Rs 225,000 at booking and a further Rs225,000 at balloting, followed by 42 monthly instalments of Rs 9,000 each. The remaining Rs 297,000 is payable in possession.

The land price for a 5-marla plot is Rs 1.75 million, with booking and balloting payments of Rs 350,000 each, monthly instalments of Rs 15,000 and a possession payment of Rs 420,000.

For a 10-marla plot, the land price is Rs 3.2 million. Buyers must pay Rs 640,000 each at booking and balloting, followed by monthly instalments of Rs 30,000 and Rs 660,000 on possession.

A one-kanal plot is priced at Rs 6 million, with booking and balloting payments of Rs 1.2 million each, monthly instalments of Rs 60,000 and a possession payment of Rs 1.08 million.

Khan said buyers could complete property registration and ownership transfer after settling the amounts due.

Asked about the “Al-Ghani Tahaffuz” policy, he said that if a buyer dies during the instalment period, the remaining instalments would be waived and the plot transferred to the buyer’s legal heirs in accordance with the policy.

Facilities being provided in the Olive block include sector mosques, parks, schools, a hospital, a commercial avenue, a sports complex, a water filtration plant, a sewerage system and round-the-clock security.